What’s the “Occupy” movement all about?

Occupy Wall Street and the many related offshoot occupations are raising a lot of questions. These will not be quickly answered, but one thing is clear–increasing numbers of people are fed up with the political and economic status quo. They are not only expressing their dissatisfaction and disgust, but they are looking for ways to make positive changes that will benefit everyone, not just the few who are presently in control.

Michael Hudson is one of the few university economists who understands the systemic nature of our global economic malaise, and is willing to speak frankly about it. The following is a recent interview that is worth watching.–t.h.g.

3 responses to “What’s the “Occupy” movement all about?”

For one, there isn’t supposed to be anything called a “bank” that is not just a guarded storage unit of precious metals and safe deposit boxes. The public IOU currency is supposed to originate from a central public bookkeeper not called a “bank”. It should be created by small interest free loans spread out as evenly as possible among the producing public. Now you have a consistent cash supply. All pooling of extra accumulated cash by a producer should be done through a private broker by the creation of stocks and bonds. If what we call a “bank” doesn’t have the ability to originate(create) cash, it is now a broker. Your broker would also handle your checking account, but there would be nothing like a fraudulent “savings” account. Creating savings accounts is one of the many manipulative ways the banking industry gets away with its fraud – give the “savers” a cut of the fraudulent profits.

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